The diffusion of the technology into libraries and frameworks is also important. I remember in the eighties it was all about abstract data types. Now days pretty much all you need is arrays, lists, and dictionaries. Wouldn't you say we should estimate how long it takes for a technology to be new to being just part of programmers toolkit?
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That's another factor indeed. But hype cycle is more for adoption into the public domain of society, more than behind the scenes who is working on it, as I see it...
Still, cloud computing is in the 'trough of disillusionment', which is interesting since AWS, Azure, to some extent GCP, and also companies like Rackspace are already making quite a bit of money out of IaaS and PaaS.
Moreover, services like Netflix (AWS), Spotify (soon-ish GCP), Dropbox, iCloud, back-up providers, and many others have already made 'the cloud' accessible to the public without the public being aware of it.